Parnassus Investments LLC Purchases New Stake in Ingersoll Rand Inc. $IR

Parnassus Investments LLC bought a new position in shares of Ingersoll Rand Inc. (NYSE:IR) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 620,664 shares of the industrial products company’s stock, valued at approximately $49,169,000. Parnassus Investments LLC owned 0.16% of Ingersoll Rand as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Capital International Investors boosted its position in Ingersoll Rand by 4.7% during the fourth quarter. Capital International Investors now owns 52,353,914 shares of the industrial products company’s stock worth $4,147,878,000 after purchasing an additional 2,351,781 shares during the period. Capital World Investors boosted its position in Ingersoll Rand by 19.2% during the third quarter. Capital World Investors now owns 31,787,657 shares of the industrial products company’s stock worth $2,626,296,000 after purchasing an additional 5,110,668 shares during the period. Capital Research Global Investors boosted its position in Ingersoll Rand by 1.2% during the fourth quarter. Capital Research Global Investors now owns 19,476,801 shares of the industrial products company’s stock worth $1,543,017,000 after purchasing an additional 222,125 shares during the period. Franklin Resources Inc. boosted its position in Ingersoll Rand by 8.6% during the fourth quarter. Franklin Resources Inc. now owns 15,641,979 shares of the industrial products company’s stock worth $1,239,158,000 after purchasing an additional 1,237,527 shares during the period. Finally, Fisher Asset Management LLC boosted its position in Ingersoll Rand by 0.4% during the third quarter. Fisher Asset Management LLC now owns 6,942,711 shares of the industrial products company’s stock worth $573,607,000 after purchasing an additional 28,787 shares during the period. Institutional investors own 95.27% of the company’s stock.

Analyst Upgrades and Downgrades

IR has been the subject of a number of research reports. Wells Fargo & Company cut their target price on shares of Ingersoll Rand from $90.00 to $88.00 and set an “overweight” rating for the company in a research report on Thursday, April 30th. Morgan Stanley cut their target price on shares of Ingersoll Rand from $92.00 to $80.00 and set an “equal weight” rating for the company in a research report on Wednesday, June 3rd. Wall Street Zen lowered shares of Ingersoll Rand from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of Ingersoll Rand in a research report on Friday, March 27th. Finally, Stifel Nicolaus cut their target price on shares of Ingersoll Rand from $101.00 to $90.00 and set a “hold” rating for the company in a research report on Tuesday, April 14th. Four equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $92.75.

Ingersoll Rand Price Performance

IR stock opened at $73.14 on Friday. The firm has a 50 day moving average of $77.00 and a 200-day moving average of $82.73. The company has a current ratio of 2.23, a quick ratio of 1.59 and a debt-to-equity ratio of 0.47. Ingersoll Rand Inc. has a 12 month low of $68.07 and a 12 month high of $100.96. The firm has a market capitalization of $28.62 billion, a P/E ratio of 49.42, a price-to-earnings-growth ratio of 4.45 and a beta of 1.19.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings data on Tuesday, April 28th. The industrial products company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. Ingersoll Rand had a net margin of 7.54% and a return on equity of 12.79%. The company had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.83 billion. During the same period last year, the business earned $0.72 earnings per share. Ingersoll Rand’s revenue was up 7.6% compared to the same quarter last year. Ingersoll Rand has set its FY 2026 guidance at 3.450-3.570 EPS. As a group, sell-side analysts predict that Ingersoll Rand Inc. will post 3.37 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 14th were given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date was Thursday, May 14th. Ingersoll Rand’s dividend payout ratio (DPR) is 5.41%.

Insider Activity at Ingersoll Rand

In other news, insider Vicente Reynal sold 30,492 shares of the firm’s stock in a transaction that occurred on Monday, April 13th. The shares were sold at an average price of $88.00, for a total value of $2,683,296.00. Following the completion of the transaction, the insider directly owned 209,534 shares in the company, valued at approximately $18,438,992. This trade represents a 12.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.49% of the company’s stock.

Ingersoll Rand Profile

Ingersoll Rand is a diversified industrial company that designs, manufactures and services a wide range of equipment and technologies for commercial, industrial and OEM customers. Its product portfolio includes air compressors and compressed air systems, pneumatic and cordless power tools, material handling and lifting equipment, fluid transfer and pumping solutions, and associated aftermarket parts and service offerings. The company’s products support applications across manufacturing, construction, transportation, oil and gas, mining and general industrial markets.

Ingersoll Rand sells through a combination of direct sales, distributor networks and service channels, delivering both capital equipment and recurring aftermarket revenue from parts, maintenance and service contracts.